The Saudi Algosaibi family gave up their fight against claims from five banks linked to a high-profile $22 billion feud within their clan over the collapse of their financial empire.
The family's Ahmad Hamad Algosaibi & Brothers (

Saudi Arabia's indebted family conglomerate Algosaibi has filed a lawsuit in New York alleging $10 billion in loan irregularities involving billionaire Maan al-Sanea, the head of the Saad Group, the Financial Times reported on Friday.